Category Archives: Web3, Decentralization, DAOs

August 22, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, Enterprise, Scaleup, FinTech and Alternative Finance, Fintech International, Fintech Services, Fundraising, Investing, Trading, Innovation and Resources, Leadership, Competition, Human Capital, Health, Venture Funding and Building, Web3, Decentralization, DAOs   No comments

Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto Portfolio

Protocol | Benjamin Pimentel | Aug 17, 2022

Binance Yi HeYi He is overseeing a $7.5 billion portfolio, with more investments to come, making her one of the most powerful investors in the industry.

Binance co-founder Yi He isn’t as well known as the crypto giant’s colorful and controversial CEO, Changpeng “CZ” Zhao.

The company has been essentially banned in CZ and He’s native China, which blocked the Binance.com site the year the company launched in 2017. Last year, Binance disallowed trades involving the Chinese yuan after China declared crypto transactions illegal. It seems like a painful irony for He, who came up with the Chinese name for the company, which translates as “safe coins.”

See:  Caution: Binance Chain Red Alarm System Flags 50 New Projects as Potential Scams

That could soon change. The 35-year-old executive is taking on a new, higher-profile role at the world’s largest crypto exchange as head of Binance Labs, the company’s venture capital arm. With $7.5 billion in assets to oversee, that instantly makes her one of the most powerful VC investors in crypto.

  • Binance, which now has more than 6,000 employees, operates from regional offices in Dubai, where He now spends most of her time, and France; she travels to Europe frequently.
  • She grew up in a rural area in Sichuan province in western China, where her parents worked as teachers. “I'm from a very small village and a very poor family,” she said.  She met CZ at a crypto meetup when she was working as a vice president at a mobile video tech company. CZ invited her to join him in launching Binance in 2017.
  • She agreed, though it was a rocky launch. Binance’s native BNB cryptocurrency crashed by 50% on its first day, though it quickly recovered, she said.
  • “Many executives have underestimated her fierceness and resolve to win,” Wang said. “She’s learned to round out her rough edges, and folks value the continuity in her approach.”

See:  Binance BNB Coin Takes a Hit on News of Potential SEC Investigation

“Instead of shunning regulators, she’s been going head-on and engaging them,” he said. “She knows the winners in crypto will be regulated.”

Continue to the full article --> here

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
August 19, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, FinTech and Alternative Finance, Fintech Opinions, Innovation and Resources, Web3, Decentralization, DAOs   No comments

Why Blockchain Technology Remains Transformational and at a Tipping Point

IMD | Arturo Bris | Jul 25, 2022

blockchain use cases globallyThe sharp fall in the value of cryptocurrencies this year is misleading. The underlying blockchain technologies remain truly transformational across a host of business applications – and are at a tipping point for adoption.

Regardless of the current price of Bitcoin, digital decision-makers can benefit from understanding how blockchain works and why it matters. Retail investors are enduring a deeply painful year, but there are four major reasons why blockchain technology is likely to continue to flourish and remain a source of value for digital leaders.

1. Blockchain technology is driving major innovation

  • Major innovation in the finance sector (i.e., DeFi) A cryptocurrency is simply a decentralized payment system powered by blockchain technology, which also supports applications including digital wallets, decentralized borrowing and lending, decentralized exchanges, alongside more traditional finance operations.  Also driving innovation in many other sectors, ranging from healthcare to shipping and insurance to music.

See:  Crypto Bridges are Integral to Blockchain Adoption but Vulnerable to Attack

  • Supports large networks that are both decentralized and secure, with the ability to exchange currency or data efficiently.
  • The versatility of blockchain technology means that every business leader can find a use case that allows them to envisage how blockchain could be used to innovate meaningfully in their organization.
  • Governments, too, are using blockchain technology to innovate. Since 2018, the United Nations has described blockchain technology as integral to “a unique moment in history:”

2. Blockchain will disrupt legacy institutions

Many legacy enterprises play the role of intermediary, because, without blockchain technology, a trusted third party is required to complete most transactions. Blockchain has serious potential to disrupt legacy institutions by eliminating the need for intermediaries, enabling individuals to interact directly and securely.  There is a growing list of sectors that are likely to be disrupted as a result of this, including banking, data storage, music, social media, hospitality.

3. Blockchain continues to mature

  • As with the early internet, blockchain technology remains clunky and a work in progress. However, widespread adoption is driving a steep maturity curve, including the proliferation of new operating protocols and applications, making the technology safer and more intuitive to use.

See:  Understanding The New V2P and P2V Metaverse Commerce Models

  • Another crucial aspect of maturation of the blockchain sector is regulation. While regulatory tightening and refinement is a natural process within sectoral maturation, it is to be welcomed as a further safeguard for investors.

Continue to the full article --> here

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
August 17, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, Digital Identity, Privacy, KYC, AML/ATF, Enterprise, Scaleup, FinTech and Alternative Finance, Fintech International, Fintech Services, Innovation and Resources, Leadership, Competition, Human Capital, Health, Voices, Web3, Decentralization, DAOs   No comments

Censorship: Vitalik Votes to Burn Staked Ethereum of Validators that Would Comply with Sanctions

CryptoSlate | Samuel Wan | Aug 16, 2022

SanctionsEthereum's Beacon Chain Validators Discuss Censorship Resistance

In a recent Twitter poll on Ethereum censorship, Vitalik Buterin revealed that he voted to punish validators complying with censorship requests by burning their staked tokens.The poll was held by software engineer Eric Wall, who asked the Ethereum community if they would burn the staked tokens of validators who comply with censorship requests or “tolerate the censorship” and do nothing.

The majority of voters  — 62%, including Buterin — opted for the former. Meanwhile, 9% voted to tolerate censorship, and 29% clicked show results. As of press time, several hours remain until the poll closes.

See: 

Canadian cryptocurrency exchanges ordered to cease dealings with convoy-linked accounts

Want Institutional Adoption? You Have to Sacrifice Tornado Cash, says Kevin O’Leary

Wall’s poll was a response to a tweet from Lefteris Karapetsas, the founder of Rotkiap, a privacy-focused portfolio tracker, who asked five significant Proof-of-Stake validators if they would comply with censorship requests or respond to the request by closing their staking service.

Continue to the full article --> here

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
August 17, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Fintech International, Innovation and Resources, Research, Venture Funding and Building, Web3, Decentralization, DAOs   No comments

10 Blockchain Startups to Watch in 2022

VentureBeat | Kolawole Samuel Adebayo | Aug 15, 2022

Top 10 blockchain projects to watchWhile many industries have seen a decline in venture capital investment, the blockchain space has continued to enjoy funding. Blockchain startups have found strength in the rise of NFT use cases alongside the convergence of blockchain and other emerging technologies like 5G, augmented reality (AR), virtual reality (VR) and artificial intelligence (AI).

Gartner predicts the business value generated by blockchain will increase, reaching $176 billion by 2025 and $3.1 trillion by 2030. In addition, Grand View Research estimates the global blockchain technology market will grow at a rate of 85.9% between 2022 and 2030. With the blockchain market capitalization poised to skyrocket in the next few years, investors continue to pour billions of dollars into blockchain and crypto startups.

See:  Overview of Some Popular Layer 1 Blockchains

A report by PwC on the outlook of the blockchain industry notes:

[Blockchain is a] technology enabler with an unrivaled capability to improve the business processes in the enterprise while simultaneously lowering the cost of trust. These advancements are touted to result in a greater return on investment (ROI) for first movers and the businesses they serve.

10 Blockchain Startups to Watch (no particular order)

1. FLUREE:  Founded 2016 by Brian Platz, based in North Carolina, U.S.A., to date raised $6.5 million

Bringing data into the blockchain space, Fluree is an open-source graph database that guarantees data integrity, provides traceability into data provenance, facilitates secure data collaboration and powers connected data insights. Fluree is going after the general blockchain application market, focusing on becoming the data management infrastructure for Web3.

See:  Crypto Bridges are Integral to Blockchain Adoption but Vulnerable to Attack

2. TABTRADER:  Founded 2016 by Kirill Suslov, based in The Netherlands, to date raised $7 million

Cryptocurrency trading platform TabTrader is largely invested in decentralized finance (DeFi). Focused on connecting end-users to multiple exchanges and to enable them to execute trades in real-time with its app, TabTrader allows trading on about 40 exchanges and supports more than 12,000 digital instruments, giving users access to a variety of instruments to trade.

3. MEETKAI:  Founded 2018 by Weili Dai and James Kaplan, based in Los Angeles, California, USA, raised to date: undisclosed

MeetKai believes the metaverse depends on maximized accessibility and the integration of artificial intelligence (AI). The startup is about extending physical reality into the metaverse and has started mapping the entire world inside its virtual realm.

Continue to the full article --> here

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
August 17, 2022   Blockchain, Crypto, Digital Assets Regulations, Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, FinTech and Alternative Finance, Fintech International, Fintech Services, Fundraising, Investing, Trading, Innovation and Resources, Legal Issues, Regulation, Consultation, Web3, Decentralization, DAOs   No comments

Strategies for Protecting NFT Brand/product IP in the Metaverse

Herbert Smith Freehills | Andrew Moir and Pietro Pouche | Aug 16, 2022

NFTs and intellectual propertyThe creation (“minting”) and sale and use of NFTs raises many IP issues which we have discussed in our previous posts in our IP in NFTs series. However, brand owners and product manufacturers must also be vigilant in monitoring the virtual marketplaces to ensure that third parties are not creating NFTs that infringe their own IP rights.  This is especially true where the company is considering releasing or has released NFTs, because the public will begin to associate the brand with NFTs (which could include infringing NFTs).  There are several strategies that companies could adopt to minimise this risk.

Strategies for product and brand protection

Companies should become familiar with the NFT marketplaces and conduct periodic searches to see if any of their IP is being traded without their knowledge. Image matching technology, such as Google’s reverse image search, can also be used to check whether specific image files are present on unauthorised domains.

See:  Intellectual Property and NFTs: What you need to know

It is also important for companies to be clear and open about their involvement in the NFT space, including making it easy for the public to see how many legitimate NFTs have been sold by the company and where these are available for sale.

The EUIPO has recently issued guidance notes in relation to trade marks and NFTs entitled “Virtual goods, non-fungible tokens and the metaverse” clarifying the approach that it is taking for applications containing terms relating to virtual goods and NFTs, which applications it says are increasing.

  • Virtual goods: From a classification point of view the EUIPO says that” virtual goods are proper to Class 9 because they are treated as digital content or images. However, the term virtual goods on its own lacks clarity and precision so must be further specified by stating the content to which the virtual goods relate (e.g. downloadable virtual goods, namely, virtual clothing)”.  The guidance confirms that the 12th Edition of the Nice Classification will incorporate “the term downloadable digital files authenticated by non-fungible tokens in Class 9″.
  • NFTs: The EUIPO also comments that NFTs are treated as unique digital certificates registered in a blockchain, which authenticate digital items but are distinct from those digital items. The guidance states that for the EUIPO, the term “non fungible tokens on its own is not acceptable”.  The type of digital item authenticated by the NFT must be specified.

See:  A new way of measuring the elusive value of intellectual property

  • Services: The EUIPO’s guidance says that services relating to virtual goods and NFTs will be classified in line with the established principles of classification for services.

Continue to the full article --> here

 

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
August 16, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, Enterprise, Scaleup, FinTech and Alternative Finance, Fintech International, Fintech Services, Fundraising, Investing, Trading, Innovation and Resources, Web3, Decentralization, DAOs   No comments

SoFi Launches Web3 Themed ETF on Nasdaq

ETF Strategy | James Lord | Aug 12, 2022

SoFiOnline personal finance and investment company SoFi Technologies has launched a thematic equity ETF targeting companies powering ‘Web 3’, a future iteration of the internet characterized by blockchain technology, artificial intelligence, and the metaverse.  The SoFi Web 3 ETF (TWEB US) has been listed on Nasdaq with an expense ratio of 0.59%.

Web 1, 2, 3

  • Looking back at the historical development of the internet, Web 1 represented the initial collection of links and homepages which could be viewed by users but lacked meaningful interaction. This version of the internet was primarily about businesses being able to share essential information.

See:  How will Web3 impact the future of work?

  • Web 2 refers to the period when users not only consumed content but created their own through channels such as blogs, media platforms, and marketplaces. While Web 2 created many ‘free’ services such as search engines, email, e-commerce, and social media, the primary criticism of this version is the privacy and security concerns for users whose data has been harvested at scale by large tech firms.
  • Indeed, the notion of Web 3 is being driven by a desire to combat these privacy and security concerns, shifting power back towards individuals and away from the dependency on large tech companies like Amazon, Alphabet, Facebook (Meta), Twitter, and Netflix.

By utilizing decentralized operational structures, blockchain technologies, and cryptocurrencies, Web3 aims to put the ownership and control of peoples’ data back into their own hands. Users will be able to engage with Web 3 through their crypto wallets, allowing them to monetize their data or take it with them when they log off.

Anthony Noto, CEO of SoFi Technologies, said:

“SoFi has a unique perspective on how the next generation spends, saves, and invests their money given our breadth of products. With this next phase of ETF launches, we’re focusing on funds that help people get their money right while also allowing them to invest in what they are most passionate about right now. We know many of our members look at Web 3 as an important part of the future, and we are thrilled to be providing a low-cost investment vehicle designed to meet those interests.”

Investment approach

The fund is linked to the SoFi Solactive ARTIS Web 3.0 Index which selects its constituents from a universe of developed market stocks with market capitalizations above $100 million and average daily trading volumes greater than $1m.

See:  5 Ingredients to Cook Up Your Own DAO

The methodology screens for Web 3 companies that derive at least 50% of their revenues from products and services in one of the following four industry categories: Big Data & Artificial Intelligence, Blockchain Technology, the Metaverse, and NFT & Tokenization.

Continue to the full article --> here

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
August 16, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Stablecoins, Metaverse, NFTs, Cyber Security, Quantum, Hacks, Fraud Alerts, Risks, InsurTech, FinTech and Alternative Finance, Fintech International, Fintech Opinions, Fintech Services, Fundraising, Investing, Trading, Research, Web3, Decentralization, DAOs   No comments

Caution: Binance Chain Red Alarm System Flags 50 New Projects as Potential Scams

Cointelegraph | Arijit Sarkar | Aug 15, 2022

Binance platform red flags list

BNB Chain’s Red Alert system flags projects based on obvious features that have been historically used in scams, rug pulls and phishing.

BNB Chain, a blockchain network created by crypto exchange Binance, has identified over 50 on-chain projects that pose a significant risk to users. A mix of crypto spin-offs resembling Dogecoin (DOGE) and Binance and others dedicated to pandas, cyborgs and koalas made the list as untrustworthy and high-risk projects.

See:  Binance CEO Raises Red Flag on Massive Chinese Data Leak

BNB Chain’s Red Alarm feature, implemented to protect investors from potential rug pulls and scams, flags projects based on two main criteria: if the contract performs differently from what the project owners advertised and if the contract shows risks that might influence users’ funds.

Speaking to Cointelegraph, Gwendolyn Regina, investment director at BNB Chain, said that the Red Alarm system analyzed 3,300 contracts in July alone, adding that the company continues to develop further measures for highlighting deceptive practices in the ecosystem.

New projects that have not been tested and lack genuine products are flagged by the system based on apparent features that have been historically used in scams, rug pulls and phishing. Regina added:

“We will tend to put them on the ‘Red Alarm’ list to effectively warn users to steer clear or participate with caution.”

As a result, the real-time identification of risky projects serves as a proactive measure in helping to protect investor funds. Red Alarm also allows users to assess project risks by entering the contract address to discover if it has logical flaws or fraud risks.

See:  Crypto scams, DeFi hacks, and rug pulls: Why the crypto industry needs insurtech

In addition to BNB Chain’s measures, Regina recommended investors “do their own research” while engaging with projects within the BNB Chain ecosystem.

Continue to the full article --> here

NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Read More
« Older posts
Newer posts »